Realtime Strategy Monitoring

Discussion in 'Strategy Building' started by ssternlight, Oct 29, 2002.

  1. Hi,

    I use WLD/IB to manage swing trades but it's not there yet for intraday monitoring of a basket of stocks.

    I understand -- but haven't tried -- Tradestation can do this in realtime. Anyone care to comment on it's capabilites, cost/benefit, etc...?

    Also, does anyone know of any other backtesting software that would be in the WLD league for backtesting that also does realtime monitoring and strategy evaluation for a basket of stocks? I have seen smartquant but it's a bit too steep a learning curve for me right now.


  2. Hi Sam.

    Did you this to our feature request list? As you know we are working on the new version 3. I think it will have something similar included. We are open for suggestions here.

  3. As far as stocks, TS will trade in real time now. It is also compatible with other brokerages such as efloortrade.
  4. TS6 can auto-trade your individual equities, but can't (to the best of my knowledge) test or auto-execute baskets of stocks.
  5. Volcker,

    I have been testing Bracket Trader (quite good at what it does) and now Dynaorder has a module that links WLD and IB. So, I will write something up for comment on the website in a day or two as I get a better feel for these products.

    I have to say that the daytrader battle is - to my mind -- becoming increasingly more computer aided/sophisticated. Real time scans, OCA orders with trailing stops, etc... has created a more level playing field for the retail trader but also made it extremely difficult to get along without these tools -- feel free to disagree anyone. :)

    Offhand, I would say that WLD could successfully add two seperate types of features:

    1) A bracket trader type of order management approach for intraday trading backed by a chartscript based monitoring and realtime scanning capability for both individual and baskets of stocks.

    2) A dynaorder approach for swing trading (and intraday position optimiziation) that monitors the "alert" basket in realtime. This could be hundreds of stocks of course.

    I think Dion, himself, discussed the possibility of a separate real-time module and much as I hate to say it - that idea may ulitmately have some merit to it.

    Anyway, I'll post my thoughts over there when I finally get them together.